Shopic's AI can identify every item placed in the shopping cart and detects when an item is added or removed from the cart with 99.4% accuracy.
, while shoppers love the convenience and speed offered by the scan-and-go alternative to long checkout lines, retailers have complained about the number of un-scanned items, which can be intentional or mistaken, that often come with the service. “Adoption for scan-and-go via smartphones has been low because it can be cumbersome for shoppers to use, especially on large items, produce, or alcohol.
Smart carts allow shoppers to keep track of their purchases as they put items in the cart and provide them with the added convenience of self-service payment and checkout. They help in navigating the store, asking for customer service assistance, and discovering items on sale or ones that go well with what they place in the cart. Smart carts also personalize the experience to the specific shopper, linking to loyalty programs and offering personalized promotions and sponsored content.
As with other digital technologies, data is smart carts’ added value to the provider, in this case grocery retailers. The data helps in optimizing inventory, store layouts and staffing, and in identifying new trends in shoppers’ preferences. In addition to Wegmans, a number of U.S. grocery retailers have partnered with startups to test smart carts technology. Kroger is working with Instacart-owned Caper AI and Albertsons is working with Seattle-based Veeve.
Founded in 2015, Shopic has announced last August a $35 million Series B investment round led by Qualcomm Ventures, bringing its total funding raised to $56 million. Other participating investors included Vintage Investment Partners and Clal Insurance, together with Shopic's existing investors IBI Tech Fund, Tal Ventures, Claridge Israel and Shufersal.
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